Gov't expects electricity price increases following T&TEC review
Finance Minister Colm Imbert said an increase in electricity tariffs is ‘essential’ for development moving forward.
Speaking on the 2020-21 budget in Parliament today, Imbert said it’s expected that an upcoming review will result in increased rates:
‘We consider that the upcoming tariff review should result in increasing levels of tariffs for electricity supply as being essential for enhancing investment and ensuring a reliable and transmission system.’
He said overall the operation of the nation’s electricity supply was satisfactory, servicing 90 percent of the country, and is being strengthened with a focus on underserved communities.
He said additionally, a Cabinet sub-committee is also reviewing The Water and Sewerage Authority’s service and finances. The review will also include an assessment of tariff increases. The report is due to be received by the end of November this year.
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